Anti-Diabetes Drugs - Singapore | Statista Market Forecast

The projected revenue in the Anti-Diabetes Drugs market in Singapore is expected to reach US$112.10m in 2024.
This indicates a positive growth trend in the market.
Furthermore, it is estimated that the market will experience an annual growth rate (CAGR 2024-2029) of 8.33%, leading to a market volume of US$167.30m by 2029.
When compared globally, United States is anticipated to generate the highest revenue in the Anti-Diabetes Drugs market.
In 2024, United States is projected to generate US$37.84bn in revenue, demonstrating its dominance in this market.
With a growing elderly population and increasing prevalence of diabetes, Singapore's demand for anti-diabetes drugs is on the rise.

Definition:
The Anti-Diabetes Drugs market covers drugs to treat the metabolism disorder diabetes mellitus. It includes insulin and non-insulinotropic drugs such as glucagen-like peptide-1 (GLP-1) receptor agonists and dipeptidyl peptidase-4 (DPP-4) inhibitors. While patients with type 1 diabetes require lifelong insulin therapy, type 2 diabetes can also be treated with medication.

Additional information:
Market values represent the revenues generated by manufacture prices paid to primary vendors, either directly or through distribution channels (excluding VAT). Reported market revenues include spending by consumers (B2C), companies (B2B), and governments (B2G).

Company examples: Novo Nordisk, Eli Lilly, Sanofi, Merck & Co

Drugs to treat diabetes mellitus (oral intake and injections)
Insulin
Non-insulinotropic anti-diabetic drugs

Drugs to treat other metabolic disorders or other autoimmune diseases
Lipid-lowering agents
Drugs to treat hypertension
Diagnostics
Devices such as continuous glucose monitors

The Anti-Diabetes Drugs market in Singapore has been experiencing growth in recent years, driven by various factors.

Customer preferences: Singapore, like many other countries, has been experiencing a rise in the number of people with diabetes. As a result, there has been an increased demand for anti-diabetes drugs in the country. Patients are looking for drugs that are effective and have minimal side effects. Additionally, there is a growing preference for drugs that are easy to administer and do not require frequent dosing.

Trends in the market: One of the key trends in the Anti-Diabetes Drugs market in Singapore is the shift towards newer and more innovative drugs. This is driven by the need for more effective drugs that can help manage diabetes more effectively. There has also been a move towards combination therapies, where two or more drugs are combined to create a more effective treatment.Another trend in the market is the growing popularity of generic drugs. This is due to the fact that generic drugs are often cheaper than their branded counterparts, making them more accessible to patients. Additionally, there has been a growing awareness of the safety and efficacy of generic drugs, which has helped to boost their popularity.

Local special circumstances: One of the unique factors that is driving the Anti-Diabetes Drugs market in Singapore is the country's aging population. As the population ages, the number of people with diabetes is expected to increase, which will drive demand for anti-diabetes drugs.Another factor that is driving the market is the country's high prevalence of diabetes among its population. Singapore has one of the highest rates of diabetes in the world, with an estimated 10% of the population living with the disease. This has created a significant market for anti-diabetes drugs in the country.

Underlying macroeconomic factors: The Anti-Diabetes Drugs market in Singapore is also influenced by various macroeconomic factors. For example, the country's strong economy and high standard of living has helped to drive demand for healthcare services, including anti-diabetes drugs.Additionally, the government's efforts to promote healthy living and prevent diabetes have helped to create a favorable environment for the Anti-Diabetes Drugs market in Singapore. The government has implemented various initiatives to promote healthy living, such as encouraging exercise and healthy eating, which has helped to reduce the prevalence of diabetes in the country.

Data coverage:

Data encompasses B2B, B2G, and B2C spend. Figures are based on drug revenues allocated to the country where the money is spent. Monetary values are given at manufacturer price level excluding VAT.

Modeling approach / Market size:

Market sizes are determined by a top-down approach, based on a specific rationale for each market. As a basis for evaluating markets, we use financial information of the key players by market. Next, we use relevant key market indicators and data from country-specific associations, such as industry associations. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the particular market. For example, forecasts are based on historical developments, current trends, and key market indicators, using advanced statistical methods. The main driver is healthcare expenditure. Expiring patents and new drugs in the pipeline are also considered.

Additional notes:

Data is modeled in US$ using current exchange rates. The market is updated twice per year in case market dynamics change. The impact of the COVID-19 pandemic is considered at a country-specific level. This market comprises prescription drugs and all OTC drugs covered in the Statista OTC Pharmaceuticals market. However, in the OTC Pharmaceuticals market, revenues are based on end-consumer prices.

This report presents a comprehensive analysis and additional information on the Health market, in a PDF format.

In 2021, diabetes mellitus caused an estimated 1.62 million deaths worldwide, making it the eighth leading cause of death. Furthermore, it is estimated that 537 million people are currently living with diabetes around the world, with this number projected to rise to some 783 million by the year 2045. Diabetes describes a group of metabolic diseases which cause high blood sugar levels. There are three types of diabetes: type 1 diabetes, type 2 diabetes, and gestational diabetes. However, the majority of diabetes cases are type 2, with an estimated 90 to 95 percent of diabetes cases in the United States type 2. Risk factors for type 2 diabetes include being overweight, being physically inactive, being 45 and older, and having prediabetes.